BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Express Scripts Inc. Says Ernst & Young LLP Stole Secrets


2/20/2013 7:43:55 AM

Just as Express Scripts began digesting its $29 billion acquistion of Medco Health Solutions, one of its consultants allegedly began trolling for trade secrets to build its own healthcare business, according to a lawsuit filed by the pharmacy benefits manager. The culprit? Ernst & Young and one of its partners, which were “possessed with an evil motive and their conduct shocks the conscious,” the lawsuit states. In its lawsuit, which was filed in a Missouri state court, Express Scripts charges that Ernst & Young partner Don Gravlin was “sneaking” into its headquarters and stealing confidential information over a number of months. Specifically, the pharmacy benefits claims the equivalent of 20,000 pages of data that included information on pricing, integration strategy and business strategy, among other things, was emailed to a private Google account. Ernst & Young “stole… proprietary and confidential information to grow and develop additional business in its health care segment, including potential additional business with Express Scripts (ESRX), Medco and their direct competitors,” the lawsuit states. Express Scripts discovered the alleged theft last August and claims an Ernst & Young partner in charge of the account was aware that Gavlin, who is no longer with the firm, had taken data but did not notify Express Scripts. Of course, allegations of stealing trade secrets are nothing new and companies regularly monitor consultants and their online activities over such concerns, as happened in this instance. In any event, Express Scripts is a fat target – after purchasing Medco, the pharmacy benefit manager now oversees benefits for more than 115 million people, dispenses one third of all prescriptions filled in the US and controls 60 percent of the mail-order drug market.

Read at Pharmalot
Read at Reuters
Read at News Release
Read at News Release
Read at North Jersey

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES